[010610.EN.SEA] Maersk Reduces Asia-North Europe Services

MAERSK LINE is scaling back its Asia-North Europe services following the launch of a new joint service with CMA CGM, the FAL 5, slated to begin in July.

The move has prompted the carrier to scrap its westbound AE23 slot charter arrangement on CMA CGM's FAL 3 service.

The French shipping line's last AE23 eastbound voyage will be undertaken by the 8,200-TEU CMA CGM Don Giovanni from Le Havre on June 14.

Maersk is also terminating its westbound AE21 slot charter arrangement on CMA CGM's FAL 1 service, following the departure of the 10,960-TEU CMA CGM Musca from Dalian. Its last eastbound voyage will depart on June 19.

"There will be a two-week gap with the extra capacity provided by the ten 13,000-TEU vessels being deployed in the FAL 5 schedule, which service has yet to be named by Maersk.

This may help spot freight rates to start rising again," said a report by Containerisation International.

"Since ocean carriers commenced bringing back services, there has been a steady decline in westbound spot market rates from Shanghai to Northern European base ports, from US$2,104/TEU on March 13, 2010 to $1,797/TEU on May 14, 2010, according to the New Shanghai Containerised Freight Index.

This rate was still 46 per cent higher than when the index was started on October 16, 2009," it added.

Source : HKSG, 24.05.10.